MIT Launches Startup Engine for Breakthrough Innovations; Strikes Deal with Lamborghini

The Massachusetts Institute of Technology (MIT) wholly embraces the marriage of entrepreneurship and innovation in a consistent set of promotion of cutting-edge ideas. This week, MIT partnered with Lamborghini and launched the startup incubator program called Engine.

They operate in aiming to bring innovators "from concept to company, and from prototype to production," the MIT team declared in the official video production for Engine. They are working on sustaining breakthrough initiatives that take a long development time. Through this initiative, they aim to build a solid network of innovators from Cambridge, Boston, and other higher institutions of learning and innovation with their seed initial fund of $150 million.

The Engine will provide funding, space, and expertise — powering a network of innovation networks. https://t.co/V9rpCDHO2Z pic.twitter.com/L82kkMkfef

— MIT (@MIT) October 27, 2016

The Engine program will harness the combined synergy of equipment, working space, and scientific talent to produce rapid technological advancements that are scalable in developing as a viable endeavor or business. It aims to bridge the products of brilliant scientific minds to the mainstream market. The program will follow through and carry out promising innovative concepts and turn them into a reality.

Following MIT President Rafael Reif's announcement of this venture, experts have also weighed in on the potential impact of The Engine in retaining talents in the Boston area. "What happens here today, those talent groups, those clusters of nails around particular domains fall out the wood before the hammer can hit them and they end up in Silicon Valley, in Beijing and Shanghai, in Mumbai, and that's a shame," Antonio Rodriguez of Matrix Partners explains to BostInno.

Apart from this large Engine project, MIT also partnered with car giant Lamborghini. The three-year partnership is a sponsorship that aims to harness research and development strengths of MIT students, particularly those who are annually studying in Italy. The deal is quite similar to Boeing's popular arrangement with Seattle's University of Washington in 2007.